The euro rose against the dollar, helped by the data for the euro area, as well as the expectations of tomorrow's speech by Federal Reserve Chairman Ben Bernanke, in which, as expected, he will be able to shed light on the future of the program to purchase assets, as well as their timing. There is a perception that the U.S. central bank cut its purchases of bonds this year and give up the program by mid-2014.

As for the records, is to provide data from the Center for European Economic Research, which showed that in July in the euro zone economic sentiment improved to 32.8 from 30.6 the previous value. Markets had expected a more modest increase to 31.8. Indicator for the current economic situation has also improved and now stands at 74.7 points.

Another report showed that inflation in the euro area accelerated to 1.6 percent in June compared with 1.4 percent in May, in line with a preliminary estimate. On a monthly measurement of the harmonized index of consumer prices rose by 0.1 percent in June. The rate of core inflation, which excludes energy, food, alcohol and tobacco remained stable at 1.2 percent, as expected. On a monthly measurement of core inflation remained unchanged. Energy prices rose 1.6 percent in June from a year earlier, while the prices of food, alcohol and tobacco rose 3.2 percent. Prices of non-energy industrial goods rose by 0.7 percent, and the cost of services increased by 1.4 percent. The annual inflation rate in the EU-27 was 1.7 percent in June, compared with 1.6 percent in May. Monthly inflation rate in the region was 0.1 percent.

It is worth noting that interrupt the growth of the European currency could not even positive U.S. data on consumer prices and industrial production.

The Canadian dollar was up against the U.S. dollar, on the background of the fact that many traders focused on the meeting of the Monetary Policy of the Bank of Canada on Wednesday, which will be the first meeting under the new Governor of the Bank of Canada Stephen runners. Also Wednesday, the quarterly report on monetary policy and the economic outlook of the Bank of Canada.

In general, economists expect the Bank of Canada's policy is left unchanged, the interest rate will remain at 1%, and will be a warning that the next step will be to increase rates. However, given the slowdown in economic growth and low inflation, the rate increase could be delayed until the fourth quarter of 2014

In addition, today's data showed that manufacturing shipments to Canada in May rose 0.7% compared with April, partly recovering from the April decline significantly. The data came out close to expectations, and did not become a serious signal to move in any direction.

The Australian dollar rose sharply against its U.S. counterpart, which in the first place was due to the publication of protocols RBA.

As it became known today, the central bank of Australia in July left interest rates at a record low, while noting that low inflation leaves the door open to the possibility of further rate cuts if the economy will require additional support. This is evidenced by minutes of the last meeting of the Reserve Bank of Australia, which took place on July 2.

As announced today, the minutes also said that the sharp fall in the Australian currency since the beginning of May could in time a bit to raise inflation, but it will remain within the target range of 2-3 percent.

Meanwhile, in the minutes noted that the board also considered that the outlook for inflation, although somewhat increased due to the decrease of the exchange rate may provide some room for further easing of monetary policy, if needed ..

According to the Reserve Bank of Australia, there is growing evidence that low interest rates are beginning to stimulate activity outside the mining industry.

Eurozone's trade in goods with the rest of the world resulted in a surplus in May, which was higher than a month earlier, data from Eurostat revealed Tuesday.

The trade surplus rose to EUR 15.2 billion in May from a downwardly revised EUR 14.1 billion in April. A year earlier, the surplus amounted to EUR 6.6 billion.

The seasonally adjusted exports fell 2.3 percent month-on-month in May and imports decreased 2.2 percent.

Exports remained unchanged in May from a year earlier. This followed a 9 percent year-on-year growth in April. Imports rose fell 6 percent annually, after a 2 percent growth in April.

Extra-EU27 trade balance was a EUR 15.8 billion surplus in May, compared with a surplus of EUR 8.8 billion in April and a deficit of EUR 4.9 billion in May 2012.

Exports by EU 27 rose 7 percent year-on-year while imports fell 7 percent. EU's exports fell 1.5 percent month-on-month and and imports decreased 2.1 percent.

EUR/USD $1.3000, $1.3050, $1.3055, $1.3070, $1.3100

USD/JPY Y99.50, Y99.60, Y100.00, Y100.25

GBP/USD $1.5000, $1.5120, $1.5225

USD/CHF Chf0.9500

EUR/CHF Chf1.2315

AUD/USD $0.9000, $0.9060, $0.9190, $0.9200

Consumer prices in the U.S. rose by a little more than expected in the month of June, according to a report released by the Labor Department on Tuesday, with the price growth largely due to a jump in gasoline prices.

The Labor Department said its consumer price index rose by 0.5 percent in June after inching up by 0.1 percent in May. Economists had been expecting prices to increase by 0.4 percent.

Excluding food and energy prices, the core consumer price index edged up by 0.2 percent in June, matching the increase seen in the previous month as well as economist estimates.

EUR/USD

Offers $1.3170/80, $1.3145/50, $1.3120/30, $1.3100

Bids $1.3050, $1.3020, $1.2985/75

GBP/USD

Offers $1.5250/60, $1.5220/25, $1.5200/05, $1.5185/90, $1.5145/50

Bids  $1.5020, $1.5000, $1.4985/80, $1.4950/40

AUD/USD

Offers $0.9350, $0.9335/40,  $0.9300,  $0.9280, $0.9240/50, $0.9230

Bids  $0.9150/45, $0.9110/00, $0.9050, $0.9025/20

EUR/GBP

Offers stg0.8740/45, stg0.8715/20, stg0.8695/700

Bids stg0.8615-00, stg0.8575/65

EUR/JPY

Offers Y132.00, Y131.50, Y131.20, Y131.00, Y130.80/85

Bids Y130.05/00, Y129.50, Y129.10/00

USD/JPY

Offers Y101.20, Y100.75/80, Y100.45/50, Y100.05/10

Bids Y99.25/20, Y99.00, Y98.55/50

German economic sentiment deteriorated unexpectedly in July, survey data from the Center for European Economic Research revealed Tuesday.

The ZEW indicator of economic sentiment fell 2.2 points to 36.3 point-mark, while it was forecast to improve to 40. Nonetheless, it remains above the historical average of 23.7.

"The financial market experts stick to their overall positive forecast," ZEW President Clemens Fuest said. "This illustrates their confidence in the robustness of the German economy despite the rather weak figures concerning industrial production and foreign trade released recently."

Meanwhile, the assessment of the current economic situation rose to 10.6 in July from 8.6 last month, and exceeded the expected reading of 9.

At 32.8 points, economic expectations in euro area gained 2.2 points. The indicator for the current economic situation also improved and now stands at the -74.7 points-mark, it said.

Inflation in euro area accelerated to 1.6 percent in June from 1.4 percent in May, the Eurostat said Tuesday, confirming its flash estimate.

Month-on-month, the harmonized index of consumer prices increased 0.1 percent in June.

According to the statistical office, the largest upward impacts to annual inflation came from vegetables and fruits and electricity. Telecommunications, fuels for transport and medical and paramedical services had the biggest downward impacts.

The core inflation rate, that excludes energy, food, alcohol and tobacco, remained steady at 1.2 percent as expected. Month-on-month, the core measure remained flat.

Energy prices increased 1.6 percent in June from a year earlier, while prices of food, alcohol and tobacco rose 3.2 percent. Prices of non-energy industrial goods rose 0.7 percent and costs of services increased 1.4 percent.

Annual inflation rate for EU 27 was 1.7 percent in June, up from 1.6 percent in May. Monthly inflation rate in the region was 0.1 percent.

U.K. inflation rose to 2.9 percent in June on higher motor fuel and clothing and footwear charges, data from the Office for National Statistics showed Tuesday. It was the fastest since April 2012.

Although the rate exceeded the 2.7 percent seen in May, it stayed marginally below the expected rate of 3 percent. Month-on-month, consumer prices fell 0.2 percent, offsetting the 0.2 percent increase in the prior month.

CPIH, the new measure of consumer price inflation including owner occupiers' housing costs, grew 2.7 percent in June, up from 2.5 percent in May.

Consumer prices excluding energy, food, alcoholic beverages and tobacco, rose 2.3 percent, in line with forecast, but slightly faster than the 2.2 percent increase registered in May.

Retail price inflation also increased in June, to 3.3 percent from 3.1 percent in the previous month. On a monthly basis, it was down 0.2 percent.

EUR/USD $1.3000, $1.3050, $1.3055, $1.3070, $1.3100

USD/JPY Y99.50, Y99.60, Y100.00

GBP/USD $1.5000, $1.5120, $1.5225

USD/CHF Chf0.9500

EUR/CHF Chf1.2315

AUD/USD $0.9000, $0.9060, $0.9200

01:30 Australia RBA Meeting's Minutes

The 17-nation euro remained higher against Japan’s currency before German data forecast to show investor sentiment in Europe’s biggest economy improved. In Germany, the ZEW Center for European Economic Research in Mannheim will probably say today its index of investor and analyst expectations increased to 40 this month from 38.5 in June, according to the median estimate of economists surveyed by Bloomberg. A reading of that level for the gauge, which aims to predict economic developments six months in advance, would be the highest since March.

Demand for the yen was limited before the release tomorrow of minutes from the Bank of Japan’s June 10-11 meeting when policy makers stuck with a pledge to expand the monetary base by as much as 70 trillion yen ($700 billion) per year.

Federal Reserve Chairman Ben S. Bernanke is scheduled to testify on monetary policy this week. Bernanke is scheduled to deliver his semi-annual monetary policy report to Congress this week, starting tomorrow at the House Financial Services Committee.

U.S. industrial production probably rose 0.3 percent in June from the previous month, the biggest increase since February, according to the median estimate of economists surveyed by Bloomberg News before the Fed releases its figures today.

Australia’s dollar gained as investors pared bets the Reserve Bank will cut interest rates next month after the minutes of its last meeting released today said the recent drop in the currency may boost inflation. Australia’s inflation outlook, which is slightly higher because of a weaker currency, could still provide some scope for further easing, the minutes of RBA’s July 2 meeting showed. Swaps data compiled by Bloomberg show traders see a 54 percent chance of the central bank cutting its key interest rate next month, down from the 65 percent probability indicated yesterday.

EUR / USD: during the Asian session the pair traded in the range of $ 1.3050/75

GBP / USD: during the Asian session the pair traded in the range of $ 1.5085/15

USD / JPY: during the Asian session the pair fell to Y99.60

There is a raft of UK data due at 0830GMT, with the release of the UK June consumer price index, the producer price index and the May house price index. A plunge in input prices in June 2012, when the index was originally reported to have fallen 2.3% on the year, hitting its lowest level since September 2009, will result in a spike higher this June. Analysts' median forecast is for an input price rise of 4.0% on the year this June, despite a 0.3% fall on the month. Output price inflation looks set to stay muted, with core output prices up only 1.1% on the year. Headline CPI is expected to have been driven higher in June. Petrol prices are set to have added some 0.2 percentage points to CPI on the year and food prices are also likely to have put upward pressure on it. The British Retail Consortium's June survey showed food price inflation rose to 2.7% on the year from 2.4% in May, despite overall shop price deflation of 0.2% on the year.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3066 -0,23%

GBP/USD $1,5101 -0,54%

USD/CHF Chf0,9481 +0,16%

USD/JPY Y99,97 +0,97%

EUR/JPY Y130,58 +0,74%

GBP/JPY Y150,92 +0,42%

AUD/USD $0,9104 -0,79%

NZD/USD $0,7815 -0,40%

USD/CAD C$1,0428 +0,59%

01:30 Australia RBA Meeting's Minutes

08:30 United Kingdom RPI-X, Y/Y June +3.1% +3.4%

08:30 United Kingdom Retail Price Index, m/m June +0.2% 0.0%

08:30 United Kingdom Retail prices, Y/Y June +3.1% +3.4%

08:30 United Kingdom Producer Price Index - Input (MoM) June -0.3% -0.1%

08:30 United Kingdom Producer Price Index - Input (YoY) June +2.2% +4.2%

08:30 United Kingdom Producer Price Index - Output (MoM) June 0.0% +0.1%

08:30 United Kingdom Producer Price Index - Output (YoY) June +1.2% +1.9%

08:30 United Kingdom HICP, m/m June +0.2% -0.1%

08:30 United Kingdom HICP, Y/Y June +2.7% +3.0%

08:30 United Kingdom HICP ex EFAT, Y/Y June +2.2% +2.3%

09:00 Eurozone ZEW Economic Sentiment July 30.6 31.8

09:00 Eurozone Trade Balance s.a. May 16.1 15.8

09:00 Eurozone Harmonized CPI June +0.1% +0.1%

09:00 Eurozone Harmonized CPI, Y/Y June +1.6% +1.6%

09:00 Eurozone Harmonized CPI ex EFAT, Y/Y June +1.2% +1.2%

09:00 Germany ZEW Survey - Economic Sentiment July 38.5 39.9

10:30 United Kingdom MPC Member Fisher Speaks

12:30 Canada Manufacturing Shipments (MoM) May -2.4% +1.1%

12:30 U.S. CPI, m/m June +0.1% +0.3%

12:30 U.S. CPI, Y/Y June +1.4% +1.6%

12:30 U.S. CPI excluding food and energy, m/m June +0.2% +0.2%

12:30 U.S. CPI excluding food and energy, Y/Y June +1.7% +1.6%

13:00 U.S. Total Net TIC Flows May 12.7

13:00 U.S. Net Long-term TIC Flows May -37.3 14.3

13:15 U.S. Industrial Production (MoM) June 0.0% +0.3%

13:15 U.S. Capacity Utilization June 77.6% 77.9%

14:00 U.S. NAHB Housing Market Index July 52 51

18:15 U.S. FOMC Member Esther George Speaks

20:30 U.S. API Crude Oil Inventories July -9.0

23:50 Japan Monetary Policy Meeting Minutes